It Covers Loss of Gross Profit if during the period of insurance the business carried on by the Insured at the premises specified in the Schedule is interrupted or interfered with in consequence of loss destruction or damage indemnifiable under Section I (Property Damage)

It Covers any unforeseen, sudden and accidental physical loss, or damage from causes such as defects in casting and material, faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness, shortage of water in boilers, physical explosion, tearing apart on account of centrifugal force, short circuit, storm or from any other cause not specifically excluded in the General or Special Exclusions hereinafter in a manner necessitating repair or replacement.

Occupation

Every kind of occupation or business can be insured under Property/Industrial All Risks (PAR/IAR) usually with high value to meet the minimum premium required.

Special Exclusions to Section I
1. The Insurers shall not be liable for loss destruction of or damage to
1.1 property in the course of construction or erection
1.2 property being worked upon and actually arising from the process of manufacture testing repairing cleaning restoring alteration renovation or servicing